Business & Markets

Gas Starts Flowing to Freeport LNG Export Plant in Texas

Freeport LNG's long-shut LNG export plant on the Texas Gulf Coast started receiving pipeline natural gas over the long U.S. Martin Luther King Jr holiday weekend, according to Refinitiv data.

Germany Must Speed Up Hydrogen Plans – Pipeline Group OGE

Germany must accelerate a hydrogen law revision, which is pending in Berlin, to allow for related investments in gas transport networks up to the end of the decade, said the head of gas pipeline operator, Open Grid Europe (OGE).

Pipeline Operator Kinder Morgan Beats Profit Estimates; CEO to Step Down

U.S. pipeline operator Kinder Morgan on Wednesday announced fourth-quarter earnings of $1.4 billion, topping analysts' estimates, and said long-time CEO Steve Kean will step down after eight years in the role.

Wintershall Dea to Leave Russia, Causing $8 Billion Loss at Parent BASF

Chemicals giant BASF on Tuesday unveiled a $7.9 billion non-cash impairment on Wintershall Dea, after the oil and gas exploration joint venture decided to exit Russia following its invasion of Ukraine.

Bulgaria Looking to Revive 186-Mile Trans-Balkan Pipeline Project

Sofia, the capital of Bulgaria, is holding talks with neighboring Greece to build the 300-km (186-mile) trans-Balkan pipeline to transport crude oil from the Greek port of Alexandroupolis on the Aegean Sea to Bulgaria's Black Sea port of Burgas in an effort to secure non-Russian oil.

Former Gazprom Unit Sefe Has Secured Regasification Capacity at Dunkirk

German gas importer Sefe has secured 3.5 Bcm of regasification capacity in Dunkirk and is closing in on new LNG import deals, its boss said, mapping out the former Gazprom division's future strategy.

Osaka Gas Signs LNG Contract with New Operator of Russia's Sakhalin 2

Japanese natural gas distributor Osaka Gas Co. said on Tuesday it had signed a contract to continue purchasing 200,000 tonnes of LNG from a new operating company running Russia's Sakhalin 2 project.

Wintershall Dea Urges Germany to Clear CO2 Exports for Storage

German oil and gas producer Wintershall Dea urged Berlin on Monday to clear exports of carbon dioxide to European neighbors that would be buried in so-called carbon capture and storage facilities.

Snam Seen Boosting Italy's Gas Security with Spending on LNG, Grid

Europe's biggest gas grid operator Snam is expected to increase investments to boost its transport, storage and LNG businesses in the next four years, in a move to reinforce Italy's energy security.

Guyana's Oil Exports Double, with Europe Taking Half of Cargoes

Guyana's oil exports jumped 164% last year, boosted by growing output and demand for the newest Latin American oil producer's light sweet crudes, particularly in Europe, where thirsty refiners ramped up imports to replace Russian supplies.

Qatar, UAE Energy Ministers Say Gas Will Be Needed for Long Time

The world will need natural gas for a long time and more investment is required to ensure supply security and affordable prices during the global energy transition, the energy ministers of Qatar and the United Arab Emirates said on Saturday.

UK Court Rules $1.15 Billion Funding for Mozambique LNG Project is Lawful

The British government's funding of up to $1.15 billion for an LNG project in Mozambique is lawful, a London court ruled on Friday, dismissing an appeal by Friends of the Earth.

Caspian Pipeline Consortium Ready to Increase Oil Supply in 2023

The Caspian Pipeline Consortium is ready to increase oil supply in 2023, CPC cited director general Nikolai Gorban as saying on Friday, thanks to increased capacity.

China's CNOOC Targets Record Oil, Gas Output in 2023

China's CNOOC Ltd. has raised its 2023 production target by around 8% to a record 650 million to 660 million barrels of oil equivalent, it said on Wednesday.

Inpex Plans to Accelerate Expansion of LNG Production and Sales

Inpex Corp., Japan's biggest oil and natural gas explorer, aims to accelerate its expansion of production and sales of LNG on the premise that LNG market will remain tight in the mid-term, its CEO said on Thursday.

French Gas Operator GRTgaz Seeks Interest in Building Hydrogen Pipeline

French gas transmission system operator GRTgaz on Thursday opened a Call for Interest, or invitation to participate, to determine the viability of building a hydrogen transport pipeline linking the French side of the Franco-Spanish pipeline BarMar with a local storage facility.

German Green Group Files Complaint Seeking Shorter LNG Terminal License

A German environmental group has lodged a complaint calling for the operating license of a new floating LNG terminal at Wilhelmshaven to be shortened by a decade, citing its discharging of chlorine and risks to Germany's climate targets.

US Natural Gas Price Volatility Hit Record Highs in 2022

U.S. natural gas futures price volatility, both implied and historic, hit record highs in 2022 as global prices spiked due to supply disruptions and sanctions linked to Russia's war in Ukraine, feeding demand for U.S. exports.

EU Energy Regulator to Launch LNG Price Assessment on Friday

European Union energy regulators will start publishing a daily LNG price assessment on Friday, the first step in the EU's plan to form a new European benchmark price for the super-chilled fuel.

Canada's Trudeau Urges Alberta to Contribute to Carbon-Capture Incentives

Canadian Prime Minister Justin Trudeau on Friday urged the government of the main oil-producing province of Alberta to use its budget surplus to help bolster tax credits meant to help scale up carbon capture and storage and reduce emissions.

Rosneft Wants to Supply Gas to Power-of-Siberia 2 Pipeline

Russia's Gazprom is aiming to start delivering gas via the 2,600-km Power-of-Siberia 2 pipeline by 2030. The pipeline could carry 50 billion cubic meters of natural gas per year.

Shell LNG Trading to Lift Quarterly Profits Despite Output Drop

Earnings from Shell's LNG trading operations are likely to have been significantly higher in the fourth quarter of last year despite an output drop caused by plant outages, it said on Friday.

EOG Eyes Flat Permian Activity, Tighter Global Oil Supply in 2023

Oil

Global oil supply will likely tighten this year, EOG Resources CEO Ezra Jacob said at a Goldman Sachs conference in Miami, Florida, but he cautioned the demand outlook is currently more "difficult to see."

Global Pipeline Construction Outlook 2023

(P&GJ) — Seldom has a new year arrived with the degree of supply and demand uncertainty facing global energy markets at the start of 2023. Pipeline & Gas Journal's annual survey of global construction activity reflects a renewed emphasis on energy security after Russia's invasion of Ukraine.

Proved US Reserves of Natural Gas Reach New Record

In 2021, proved reserves of natural gas set a new record in the United States, and proved reserves of crude oil and lease condensate increased, but not quite to pre-pandemic levels.

Shale Producer Pioneer Expects OPEC to Boost Oil Prices as Brent Tumbles

Oil

The Organization of the Petroleum Exporting Countries (OPEC) will likely take steps to boost oil prices, which started the year in free-fall, the chief executive of top shale producer Pioneer Natural Resources Scott Sheffield said on Thursday.

Equinor, RWE to Build Hydrogen Supply Chain for German Power Plants

Equinor and RWE said on Thursday they plan to develop a supply chain for low-carbon hydrogen, allowing Germany to cut its reliance on coal power and thus its CO2 emissions.

US Poised to Regain Crown as World's Top LNG Exporter

The United States is on track to become the world's biggest exporter of LNG this year — ahead of current market leader Australia — once a fire-idled Texas plant is restarted, according to Reuters data.

Canada Oil Sands Producers to Begin Evaluating Proposed Carbon Storage Site

Canada's largest oil sands producers signed an agreement with the Alberta government allowing them to assess the geology of an underground carbon storage site, a step in their plan to tackle greenhouse gas emissions, the companies said on Wednesday.

Sources: Tokyo Gas Nears $4.6 Billion Deal to Buy US Natural Gas Producer Rockcliff

Rockcliff produces more than 1 Bcf/d of natural gas from the Haynesville shale formation, which stretches across Louisiana and East Texas. Quantum originally backed the Rockcliff management team with a $350 million investment in 2015.